Wow Air mulls stake sale, buoyed by interest in rival Norwegian

Wow Air said it could seek to raise funds through a stake sale this year and that major airline groups have shown an interest. Wow needs to finance expansion plans that include services to Asia and its first direct Europe-US flights, and could alternatively seek a non-industry investor or opt for an initial public offering, founder and CE Skuli Mogensen said. Burgeoning bid interest in Norwegian Air Shuttle, which says it’s had a number of approaches since IAG revealed that it might pursue a takeover, has shown that major carriers are sold on the concept of discounted long-distance travel, Mogensen said. He declined to name possible suitors for Wow. Wow will announce its first Asian route from Iceland next month with the aim of connecting travellers to the eastern seaboard of North America via the shortest Arctic flight path. <br/>